Oryx Energies boosts majority stake in Oryx Gas South Africa
The company acquired Royale Energy's stake as it aims to expand services to both end-consumers and key accounts.
Oryx Energies has announced its acquisition of Royale Energy's 10.57% stake in Oryx Gas South Africa, enhancing its majority interest in the liquefied petroleum gas (LPG) distribution company.
The move reinforces the company’s commitment to expanding its services to both end-consumers and key accounts through an extensive dealership network and direct sales.
The transaction, details of which remain undisclosed, underscores Oryx Energies' ongoing investment in its LPG sector. By increasing its stake, the firm aims to solidify its position as a market leader and bolster its presence in South Africa.
This acquisition aligns with its broader strategy to support the transition towards cleaner fuels and underscores its dedication to the energy sector’s evolution.
“Increasing our share in Oryx Gas South Africa is a key step in our strategic plan, Oryzon 25. This investment supports our goal of being a leading LPG provider in sub-Saharan Africa and furthers our commitment to the global LPG market,” said Stephen Paris, Chief Financial Officer of Oryx Energies.
With nearly 25 years of experience promoting LPG in sub-Saharan Africa, Oryx Energies continues to advocate for LPG as a safe, efficient, and sustainable energy solution.
